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HomeMy WebLinkAbout2014-04-28 14-149 ORDERCOUNCIL ACTION Item No. 14-149 Date: April 28, 2014 Item/Subject: ORDER, Authorizing an Amendment to the Indenture of Lease with Stillwater Enterprises, Inc. - 108 Florida Avenue Responsible Department: Community & Economic Development Commentary: Stillwater Enterprises, Inc. has exercised its option to extend its lease of a building at 108 Florida Ave. for three (3) years. Stillwater Enterprises, Inc. has agreed to a rate of $1,240 per month with the responsibility for all utilities for the first year, and $1560 per month during the second and third years of the term. Stillwater Enterprises, Inc. is a custom metal fabrication business that has been a tenant since 2007. They manufacture special orders for general contractors and architects from sheet, solid or tubular stock metal. They also create custom products such as tidal energy structures, stair railings, elevator ladders, security doors, wheel chair ramps and fire escapes. This item was reviewed and recommended for approval by the Business & Economic Development Committee at its April 22, 2014 meeting. Introduced for Passage First Reading Referral Page _ of _ /s/ Tanya Emery Department Head Manager's Comments: rYl. City Manager Associated Information: Budget Approval: Finance Director Legal Approval: ity Solicitor Introduced for Passage First Reading Referral Page _ of _ Assigned to Councilor Plourde CITY OF BANGOR 14-149 APRIL 28, 2014 (TITLE.) ORDER, Authorizing an Amendment to the Indenture of Lease with Stillwater Enterprises, Inc. — 108 Florida Avenue WHEREAS, the City of Bangor is the owner of Building #269, 108 Florida Avenue in the Bangor International Airport Complex; and WHEREAS, Stillwater Enterprises, Inc. has been a tenant at Building #269, 108 Florida Avenue since 2007; and WHEREAS, Stillwater Enterprises, Inc. has exercised its option to extend its lease for three years: BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT The City Manager is hereby authorized to execute, on behalf of the City of Bangor, an Amendment to the Indenture of Lease between the City of Bangor and Stillwater Enterprises, Inc. with a term of three (3) years including two (2) options to extend the agreement for three (3) years and a lease rate of $1,240 per month with the responsibility for all utilities for the first year in a form approved by the City Solicitor or the Assistant City Solicitor. IN CITY COUNCIL April 28, 2014 Passed-